Oil Futures Hit US$100 per Barrel as Tensions Rise Between Tehran and Washington
Brent LCOc1 futures climbed 2.3% to reach their session high of US$100.19, breaking the level for the first time since July.
International oil prices rose above US$100 per barrel on Thursday as geopolitical tensions escalated. Brent LCOc1 futures surged 2.3%, touching a daily peak of US$100.19. This mark represented the highest point reached this trading session and broke the symbolic threshold for the first time since July 24. Iran claimed it launched ballistic missiles against an American base in Jordan, while both nations alleged they attacked each other's vessels. These developments raised fears that higher inflation would force central banks to maintain tighter monetary policy longer. Investors faced pressure globally as producers increased prices. The International Monetary Fund and the World Bank are currently analyzing producer price data from the United States to gauge ongoing inflationary pressures.
